Philip Hammond's Budget included a £1bn investment to help welfare claimants transfer to new consolidated benefit universal credit - but Mr Corbyn said cuts were still "hardwired" into the system.

"The reality is austerity is not over," he said, adding that "chunks of the deficit" had been moved to NHS and local authority budgets.

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Philip Hammond did not look impressed by Jeremy Corbyn's response to his Budget

He also dismissed a pledge of extra money for social care as a "drop in the ocean" and said the government was still not offering enough money for the NHS despite its commitment of an extra £20bn over the next five years.

Labour has promised to increase spending by £50bn - raised by tax rises on high earners - as the first stage of its pledge to "reverse" austerity. And Mr Corbyn promised to raise investment "across the board".

The Labour leader said uncertainty over Brexit was "making things even worse", saying some Conservatives "fantasise" about a "race to the bottom" on rights and regulations once the UK left the EU.